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The Turbo Turtle : Trend Following for the Foreign Exchange Markets

Product Description“There are several books on trend following and turtle trading but none of them approach this simple yet lucrative trading style with the small trader in mind. The biggest and most successful hedge funds employ the trend following method but nobody has ever tried adopting this system for the average, small trader or investor.A while ago I have purchased the turtle trading system from Michael Covel via his web site. It cost me approximately nine hundred dollars a… More >>

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I am not a financial guru, and most of The Turbo Turtle went right over my head. But if you are looking to learn an exclusive trading method, Andras M. Nagy will teach you. His trading credentials include Wall Street and the Chicago Board of Trade. Now he is sharing the secrets of Turtle Trading with the average, small time investor.

Turtle Trading centers around the Foreign Exchange (Forex or FX) Market composed of $1.5 trillion of the world’s currencies. It operates 24 hours a day, 7 days a week. To enter the game, an investor needs to go through a broker.

It’s a long term strategy. A few big trades make up the bulk of the profits and many small trades make up the losses. Even successful traders only make winning trades 50% of the time. If traders deplete their capital to the point that they can no longer trade effectively, then they will never know what could have been. If traders are unable to survive in the markets on a short term basis, then they will not be around when opportunities to make money arise in the long term.

Making money is a by-product of following the Turtle Trading rules. Let the profits run. Cut losses short. Have a high percentage of winning trades. Pick the right stock. Ignore a losing trade if it followed a written trading plan. Risk no more than 1-2% of funds on any position. Increase position size when making a profit; decrease position size when losses mount.

Winning traders can only profit to the extent that other traders are willing to lose. Losing traders fund the profits of the winning traders. The key is risk control. If traders control their risks and run their profits, they can position themselves to make more money in the long term. During more volatile periods, traders trade fewer shares. During less volatile periods, they trade more shares. They protect profit as well as initial capital to trade effectively.

Short term systems will never allow traders to be in a trend long enough to achieve large profits. Traders may end up with small losses, but they’ll also have small profits. Added together, numerous small losses equal a big loss. Turtle Trading is based on the fact that human beings are not psychologically equipped to interact profitably with the markets. When money is involved, psychological pulls interfere with objectivity. As a result, human beings who have money on the line tend to take their losses too late and their profits too soon.

Turtle Traders rely on mechanical trading systems that run on a longer time frame of several weeks or months. They stick with the system and do not change it on a whim. They never add money to losing positions and they mechanically add to winning positions.

Intelligent traders are not in the business to make a bundle on each and every trade. They try to maximize their winning trades, but they do this by holding onto winners throughout trends, not by making huge bets because they are confident in their own forecasting abilities.
Rating: 4 / 5

The value of a dollar and the value of a pound and their relation aren’t static. “The Turbo Turtle: Trend Following for the Foreign Exchange Market” is a guide to trend following, also known as turtle trading. Being cautious about one’s trading and being informed are key to winning in this market, and Andras M. Nagy seeks to help readers gain a greater control of their trading strategy. “The Turbo Turtle ” is a treasure trove of information, highly recommended.

U.S. Government Required Disclaimer : All Futures, options, forex and stock trading involves large potential rewards, but also large potential risks. You need to be aware of these risks and willing to accept them in order to invest in these markets. If you cannot afford to lose money don’t engage such activity. This is a private blog, the website/email/ social media postings are not meant in any way to be interpreted as a solicitation to buy/sell securities futures, options, forex or stocks. No representations are made that a strategy or account will attain, make, or achieve profits or losses similar to those discussed on this site. Past performance is not indicative of future results.
CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.